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Recent items include:

  • Itemized Deductions vs. Above-the-Line Deductions
  • MDR charges tax-deductible as business expense, say tax experts
  • Which States Allow Deductions for Overtime Pay in 2026?

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blog.taxact.com /1 week ago

Itemized Deductions vs. Above-the-Line Deductions

Updated for tax year 2026. You probably know that claiming income tax deductions reduces your taxable income. But did you know that […] The post Itemized Deductions vs. Above-the-L...

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thehindubusinessline.com /2 weeks ago

MDR charges tax-deductible as business expense, say tax experts

Experts argue that since MDR fees are akin to other operational costs, such as rent and salaries, they should qualify for deductions, ultimately reducing the effective cost for com...

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itep.org /1 month ago

Which States Allow Deductions for Overtime Pay in 2026?

The federal deductions for up to $25,000 in tipped income, for a similar amount of overtime pay, and for some auto loan payments have not been widely adopted by states. As of late...

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itep.org /1 month ago

Which States Allow Deductions for Tipped Income in 2026?

The federal deductions for up to $25,000 in tipped income, for a similar amount of overtime pay, and for some auto loan payments have not been widely adopted by states. As of late...

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currentfederaltaxdevelopments.com /1 month ago

Unmasking the $70 Million Dubai Fraud: A Technical Analysis of Section 165 Theft Loss Deductions in Deutsch v. Commissio...

Deutsch v. Commissioner, T.C. Memo. 2026-66, August 12, 2026 For tax professionals representing clients who have fallen victim to fraudulent investment schemes, securing a the...

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tribune.com.pk /1 month ago

K-P rejects Rs6.4b federal deduction

Afridi says no constitutional, legal basis exists for deduction from July's transfers without consent

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philstockworld.com /2 weeks ago

Leave No Dollar Behind: 10 Overlooked Tax Deductions the IRS Hopes You Forget

Tax reform in 2018 changed the nature of filing your tax return by increasing the standard deduction and making most taxpayers ineligible for … Source

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taxfoundation.org /3 weeks ago

Options Guide Shows the “No Tax On” Deductions Are Costly and Complex

The “no tax on” deductions show the drawbacks of using narrowly tailored provisions to provide tax relief.

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thetaxtalk.com /2 weeks ago

Section 80GGC: A Bank Payment Is Not Always Enough-But a General Allegation Is Not Enough Either

Section 80GGC: A Bank Payment Is Not Always Enough-But a General Allegation Is Not Enough Either     Political donations and tax deductions under section 80GGC have recently become...

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thetaxtalk.com /4 weeks ago

Section 24(b): Processing Fee, Insurance and Maintenance Charges Can Also Qualify as “Interest”

Section 24(b): Processing Fee, Insurance and Maintenance Charges Can Also Qualify as “Interest”     When a taxpayer borrows money to acquire a property and pays the bank not merely...

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journalofaccountancy.com /1 month ago

IRS updates overtime deduction FAQs, adds reporting details

Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The...

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kenyans.co.ke /1 week ago

Court Delivers Ruling on Housing Levy

The deductions, as well as the entire housing act, have been a subject of legal contestation since coming into effect under Ruto's administration.

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accountingtoday.com /1 month ago

IRS updates guidance on overtime deduction

The Internal Revenue Service has updated the questions and answers in its fact sheet on the new overtime deduction under the One Big Beautiful Bill Act, now known as the Working Fa...

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Sources covering Deductions

blog.taxact.com

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feeds.feedburner.com

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itep.org

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taxfoundation.org

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thetaxtalk.com

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tribune.com.pk

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